Question

Marketers sometimes say that nothing happens in business unless somebody sells something. That something is the firm’s product or service offering. However, the marketer must cultivate the attitude that he or she is not selling a product or service per se. Rather, the marketer is selling an experience or a means to solve a problem. The offering’s value comes from the ability to deliver benefits to enhance the customer's situation.

– Many marketers sell a variety of closely related products to relatively similar types of customers. Why? What are the implications for the ability of the firm to manage these product offerings? What would the advantages and disadvantages of such an approach be?

Answer 1

Marketers sell closely related products to penetrate market and bring variety and products depth by increasing distribution and lowering costs and thus achieving better market share and also cannibalization of competitors brands is possible.

Implications of management of such offerings is befter customer satisfaction, low customer acquisition cost, higher reach, low customer switching rate.

Key advantage here would be higher top of mind recall value and better brand awareness and brand resonance.

However disadvantages like brand saturation ajd excessive dilution of existing core brands is possible.

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